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Expanding Payments Options for Software Companies

Expanding Payments Options for Software Companies

The software industry is as competitive as any marketplace today. It's exciting and dynamic, spurred by the truth that when it comes to innovation, there literally are no boundaries.

Yet while innovation is certainly a paramount consideration when researching software solutions, customers in this industry also want a wide array of services and they want it all for a reasonable price. These are the challenges the industry faces. Those that can navigate them thrive. Those that cannot disappear. It’s that simple.

At the same time, software developers have requests of their own and solutions they need to help them grow and compete in this intense marketplace. And like their own customers, they too want options that present solutions for a wide array of challenges, particularly when focusing on the handling of payments. Because among the many solutions software developers seek, electronic payment processing remains one of the most requested.

To meet this need, Payment Data Systems Inc. has acquired Singular Payments. The acquisition not only improves the wide array of payment solutions PDS offers but allows the industry leader to provide customers with new solutions via its trendsetting Payfac in a Box.

A Solution Set of APIs to Support Software Firms

When software companies face a need, they have two choices: partner with a subject matter expert to solve the problem or create a solution themselves. Choices understandably vary based on the situation, but in the payments solution space, creating the solution in-house could expose the company to unnecessary risk as staff may lack the experience, infrastructure, and technology to fully optimize the solution while navigating the inherent complexities, risk management, and data security considerations that come with a comprehensive payments solution. In other words, the solution could easily lead to more problems than it solves.

Singular Payment’s Payfac in a Box™ platform allows software companies to utilize the system’s robust infrastructure to automate their onboarding and contracting needs all through a single interface. Users can also take advantage of the solution’s single, one-flat-rate pricing structure to accept electronic payments through any software solution, and the system can be customized to meet each software developer’s precise requirements in order to integrate nearly their entire existing customer base.

In addition, the solution also supports secure Automated Clearing House (ACH) processing to eliminate any concerns. This makes it the perfect, comprehensive solution for an industry where innovation knows no boundaries.

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